I SIX Siueu dle. If you Poll å 6, you win $9. If you roll a 2, 3, 4 or 5, you win $2. Otherwise, you pay $6. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) b. Find the expected profit. $ (Round to the nearest
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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The outcomes of the six sided die is {1, 2, 3, 4, 5, 6}
The probability of getting a number is 1/6.
Given that,
For rolling 6, you win $9. That is, the probability of winning $9 is 1/6.
For rolling 2, 3, 4, 5, you win $2. That is, the probability of winning $2 is 4/6.
For rolling 1, you win $6. That is, the probability of winning $8 is 1/6.
a.
The random variable X is defined as the profit. Hence, the variable X takes values 2, 6, 9 with probabilities, 4/6, 1/6 and 1/6, respectively.
Therefore,
|
X |
P(X) |
|
$2 |
4/6=0.6666 |
|
$6 |
1/6=0.1667 |
|
$9 |
1/6=0.1667 |
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